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- Capital One Savor® Bonus
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Capital One has launched the Capital One Savor® rewards credit card now that their Premier Dining Rewards card is no longer available. Capital One has made several updates to this card since its initial offering. This new rewards card offering comes with an updated $500 sign-up bonus opportunity.
As the name subtly hints, this card is targeted to consumers that dine out often, where the earnings rate is the highest at 4% cash back (previously 3%). The updated 4% rate now also applies to purchases categorized as “entertainment”. The second highest earning category is for groceries, where you’ll earn 2% cash back.
What counts as dining?
Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.
What counts as entertainment?
Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.
What counts as a grocery store?
A supermarket, meat locker, freezer, dairy product store and specialty market. Excludes superstores like Walmart® and Target®.
The $500 bonus is a big step up from the previous $100 promotion, but the trade-off now is that there’s an updated $95 annual fee (previously no annual fee). The good news is that the annual fee is waived the first year so you can give the card a full trial run. While there’s nothing groundbreaking with this card, it will come in handy for users with the intended needs.
If you travel often and dine out, you’ll be better off with other card choices that have higher earning potential for both categories of spending (the Chase Sapphire Preferred® and Barclaycard Arrival® Plus World Elite Mastercard® are popular choices, but also have annual fees).
If you’re mostly staying put in your hometown and eat out often, then this card may be the right fit for you. Or, perhaps you have a large family and everyone only eats organic, racking up hefty grocery spending each month.
If you’re not spending heavy on Dining, Entertainment and Groceries, there are several No Annual Fee credit cards that can earn 1.5% – 2% on ALL purchases (e.g. Capital One® QuickSilver® Cash Rewards [1.5%], Citi Double Cash [2%]).
Savor® Rewards Card $500 Bonus
A $500 sign-up bonus is a surprisingly high value offer for such a card. If you’d like to compare it to other great sign-up bonuses, see our Credit Card Bonuses page.
To earn the $500 bonus with the Savor® rewards card, spend $3,000 on purchases within the first 3 months of account opening. This high spending requirement is expected for such a big bonus offer.
Ways To Meet The Spending Requirement
If for whatever reason you find yourself unable to reach that $3,000 spending requirement in the first 3 months (maybe you’re applying for several card bonuses?), below are some good options:
Savor® Rewards Card Benefits
The 4% cash back on dining/entertainment and 2% on groceries (it’s the standard 1% on all other purchases) are the obvious reasons for jumping on this card, and the cash back you earn has no maximum caps and no rotating categories to be concerned with. Your cash back will never expire, and there’s actually no minimum threshold you must reach before you can redeem your earnings.
While we think it’s best to carry a better Travel specific credit card when you’re abroad, it’s nice to know the Savor® card actually won’t incur any foreign transaction fees out of the country. It’s typically 3% for such spending with cards that don’t offer this perk.
Aside from these main card benefits, this card also comes with World Elite Mastercard® Benefits:
- Extended warranty protection at no charge on items that are purchased with your credit card.
- Complimentary concierge service to help with booking travel, dining reservations, locating hard-to-find items and more—24 hours a day.
- Identity Theft resolution services
- Travel upgrades and savings like complimentary room upgrades, early check-in and late check-out when available, access to a portfolio of Luxury Hotels & Resorts and more.
- Travel protection where you can be reimbursed up to $1,500 per trip for non-refundable travel expenses, if your trip is cancelled or cut short by things like sickness or injury.
- Price protection where you can get reimbursed the price difference on eligible items when you find the same item for a lower price within 60 days of purchasing it with your credit card.
What’s The Competition?
The Savor® rewards card from Capital One is actually a good option for those with specific Dining and Grocery spending needs, but you’ll definitely want to take a look at some other options before making the final decision.
Travel Card Options To Consider
No Annual Fee Card Options To Consider
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